CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN
Plan Contact
- Address: 614 E. LINCOLN WAY,MINERVA,OH
- Contact person: TARA EVANS, FOR TAG RESOURCES
- Phone: (330) 868-7701
Plan General Information
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is $11,334,055.00.This plan was established in 1980.
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is 183
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is $61,934.00
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is $4,226.00.
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is approximately $2,185.00
Investing in this additonal $2,185.00 for 20 years would give you extra $139,898.00, assuming a 10% annual return.
Investing in this additonal $2,185.00 for 20 years would give you extra $139,898.00, assuming a 10% annual return.
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN allocates $400,021.00 to match its employees' contributions, providing an employer match rate of 52.00% of their contributions
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is 16.97%.
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is 16.01%. This measures the effectiveness of the plan participants' investments in the year.
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN is 0.58%.
Enrollment Features
CONSUMERS NATIONAL BANK 401(K) SAVINGS AND RETIREMENT PLAN has the following features:Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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